Free Press Journal
  • Lower food prices ease India’s WPI to 4.53% in August

    New Delhi: A massive fall in food prices and cost of primary articles eased India’s annual inflation rate based on wholesale prices to 4.53 per cent in August from a 5.09 per cent rise in July.

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    Due to inflation, CM’s pet project to cost more

    Mumbai: The project cost of Nagpur-Mumbai Samruddhi Corridor, an ambitious pet project of Chief Minister Devendra Fadnavis has escalated to Rs 49,247 crore form earlier Rs 46,000 crore. Government attributes it to inflation.  The government has awarded a big package to the Project Affected People (PAPs) to acquire their agricultural land, the expected expenses on land acquisition has reduced to Rs 7500 crore from earlier Rs 13,000 crore, however the interest on

  • Rate hike to keep inflation below 4 pc: RBI MPC

    Mumbai: RBI Governor Urjit Patel voted for a rate hike at its policy meet earlier this month as a step towards keeping inflation below the mandated 4 per cent mark on a “durable basis”, according to the minutes of the meeting released today.  Five of the six members of the all-powerful Monetary Policy Committee headed by Patel had voted for a 25 basis points hike in the benchmark lending rate (repo) on

  • July retail inflation at 9-month low of 4.17%   

    Mumbai : Retail inflation fell to nine-month low of 4.17 per cent in July on account of slowdown in prices of vegetables and fruits, said government data released. Based on Consumer Price Index (CPI), inflation for June has also been revised downwards to 4.92 per cent from the earlier estimate of 5 per cent, as per the Central Statistics Office (CSO) data released on Monday.

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    Hike to contain Inflation

    The second rate hike on the trot suggests that for the central bank controlling inflation is a priority above even growth. The RBI raised repo rate by 25 basis points on Wednesday, the second since June, making it 6.5 percent.  Caution on inflation seemed to be the key for the six-member monetary policy committee which voted five to one for raising the rate by 25 basis points yet again. Since the RBI

  • Sensex falls 218 pts, Nifty below 11k as WPI inflation races to 4-yr high

    Mumbai: The benchmark BSE Sensex dropped by around 218 points or 0.60 per cent due to sell-off in banking, pharma, and metal stocks as investors turned cautious after wholesale inflation surged to a four-year high. The broad-based Nifty cracked below the 11,000-mark as 35 of its constituents closed in the red, led by Dr Reddy’s, Tata Steel and Lupin.

  • Rupee value rises 25 paise to hit a 3-week high against US dollar

    Mumbai: Rising for the third day, the rupee appreciated by 23 paise to trade at a three-week high of 68.32 against the US dollar today amid easing food prices, and continued selling of the greenback by banks and exporters.

  • Wholesale Price Index inflation rises to 3.18 percent in April on costlier fuel, fruits

    New Delhi: Inflation based on wholesale prices shot up to 3.18 per cent in April on increasing prices of petrol and diesel as well as fruits and vegetables.  The Wholesale Price Index (WPI) based inflation stood at 2.47 per cent in March and 3.85 per cent in April last year. According to government data released today, inflation in food articles was at 0.87 per cent in April 2018, as against a deflation

  • Analysts expect RBI rate hike following ‘hawkish’ MPC minutes

    Mumbai: The interest rate-setting panel’s deliberations point towards a “hawkish” stance in the future, which may increase the possibility of a rate hike by the Reserve Bank, analysts said today. “Minutes (of the monetary policy committee) suggest that a back-ended rate hike in 2018 remains a possibility, if headline inflation exceeds the trajectory set out by the MPC,” domestic rating agency Icra said in a note. It was also leaning towards hawkishness, which was

  • How the inflation story changed

    It was not very long ago that a debate was stirred-up about the inflation forecasts issued by the Reserve Bank of India. The argument then was simple: The RBI inevitably painted a picture of inflation showing up higher than it actually had moved. These projections meant that the RBI was never really ready or willing to push down the policy repo rates in enough good time to enable growth. There was the

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    NCP leader Supriya Sule says her homemaker mother complains of inflation

    Mumbai: Pratibha Pawar, wife of Sharad Pawar, chief of Nationalist Congress Party (NCP) still goes to the vegetable market, books gas cylinder on her own and expresses concern over inflation, Supriya Sule, NPC leader and Pawar’s daughter revealed her mother’s life as a homemaker and how she suffers because of the hike in rates of gas cylinder and vegetables.

  • Policy Repo Rates will move up as inflation looms large

    Mumbai: The Monetary Policy Committee (MPC) of the RBI, in its last sitting for the current financial year and the first meeting after the Union Budget, has decided by a majority vote (5 to 1) to keep the policy repo rate unchanged at 6 per cent. One member voted to increase the rate by 25 basis point.

  • Economic Survey: India second fastest growing economy in the world

    New Delhi: None of the D-day predictions of huge slide in economic growth, rampant joblessness and stubborn inflation have come true. According to the Economic Survey for 2017-18, India remains the second fastest growing economy in the world and will again regain its stature as the fastest growing next fiscal.